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Danny R.
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Is now the time to invest in Indianapolis?

Danny R.
Posted Oct 24 2020, 04:22

Hello there. I have sold a vacation property of mine in Southern California, it was bought in cash almost 10 years ago. It was a property I haven’t been using much for the last 3 years. I live in a neighboring state now.

HOA dues and Taxes in California were just wiping me out. Even if I had rented that house out it would only make me about 1/3 of what that money could make me if it were deployed somewhere in the Midwest.

I’ve chosen Indianapolis because I know people there, I’m familiar with it’s areas, in some way.

My question is: Is now a good time to invest in Indianapolis?

I’m 31 years old now. I have experience in real estate from my parents, they’ve been playing this game forever, way before I was born. I was only able to buy my properties in California thanks to my trust that they’ve set up for me. But after a long time living a life of not adding anything but spending everything I’ve decided that it’s time to be more practical.

I’ve decided that I will be selling every property that I’ve bought in the last 10 years that is either not making me money, or that is making me less than it could.

I’ve been researching the Indianapolis area and I love the potential. It seems like an assured success. Of course there are some details on where to buy, like almost every other market.

But is now the time? With the pandemic’s second wave just starting now, with businesses both small and large struggling under the pressures of lockdowns, with people losing their jobs left and right. Is this the time or should I wait just another year? Maybe even more than a year since experts are saying that the economy will take a while to heal.

It’s sad what’s happening to our economy. It’s sad what’s happening to hardworking American families that are losing their jobs. But as a real estate investor I cannot have my tenants not pay rent due to loss of job and income caused by the pandemic. And not being able to evict them. So, is now a good time to invest? Or should I wait a year or a year and half to start investing in the Indianapolis real estate market?

I was thinking of waiting as so many large corporations keep announcing layoffs in the dozens of thousands. Some of those people who are being laid off could be my tenants, and they could have no way to pay me. And though it’s sad what’s happening to them, I cannot just have people living in my properties for free indefinitely.

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